First Quarter Market Report for 2017 · 2017-06-13 · 2014. New Single-Family Housing...

Net Job Creation (Edmonton CMA)• ThenumberofpeopleworkingintheEdmonton

regionwasdowninFebruaryby3.5%year-over-year,representinganetdeclineof27,000jobs.

• EmploymentinFebruarywasupmonth-over-month,however,by2,600jobsfromJanuary.

• After2monthsin2017,employmenthasdeclinedonaverageby3.6%fromtheaverageduringJanuaryandFebruary2016.

Unemployment Rate (Edmonton CMA)• Thejoblessrate(seasonallyadjusted)inthe

EdmontonCMAwas8.3%inFebruary,upfrom8.1%inJanuaryand7.5%attheendof2016.

• Thelabourforcegrowthoutpacedjobcreationmonth-over-monthinFebruary,liftingtheunemploymentrate.

• Edmonton’sjoblessratewas6.9%inFebruary2016.

Average Weekly Earnings (Edmonton CMA)• StatisticsCanadareportedthataverageweekly

earnings(AWE)intheEdmontonCMAincreasedinJanuaryby2.1%year-over-yearto$1,121.

• Month-over-month,however,AWElevelsdecreasedfrom$1,132inDecember.

• AWElevelsinEdmontonwereupin2016onaverageby3.5%fromallof2015.

Economic Indicators

First Quarter Market Report for 2017

TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.

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New Motor Vehicle Sales – Alberta• NewautosalesacrossAlbertaincreasedin

Januaryby3.4%fromthefirstmonthof2016to15,302units.Thiswasthethirdconsecutivemonthofyear-over-yeargains.

• Newvehiclessalesinallof2016decreasedby7.6%from2015levels.Thiscompareswitha12.6%decreasein2015fromthepreviousyear.

Alberta Net Migration• TotalnetmigrationintoAlbertafromallsources

decreasedby51%year-over-yearduringthefourthquarterof2016to3,555persons.

• ThenumberofnewcomersfromoutsideofCanadawasalsodownfromayearpriorbuthighenoughtocompensatefornetlossestootherprovinces.

• Alberta’soverallpopulationgrowthratedeclinedin2016to1.5%from1.7%in2015and2.4%in2014.

New Single-Family Housing

Single-detached Housing Starts (Edmonton CMA)• Single-detachedstartsintheEdmontonCMA

increasedinFebruaryby7%fromyear-agolevels348units.

• Thisfolloweda7.2%year-over-yeardeclineinJanuary.

Economic Indicators

First Quarter Market Report for 2017

TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.

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Single-detached Housing Starts (YTD) (Edmonton CMA)• Single-familystartsinthefirst2monthsof2016

wereupbyjustunder1%fromJanuaryandFebruary2016to592units.

• In2016,single-detachedstartsdecreasedby23.7%fromthepreviousyearto4,335units.

New House Average Prices (Edmonton CMA)• Theaverageabsorbednewhousepriceforthe

EdmontonCMA,accordingtoCMHC,decreasedinJanuaryby6.5%year-over-yearto$541,306.

• Theaverageabsorbedpriceinallof2016declinedby4.3%thepreviousyearto$577,393.

New Single-detached Absorptions (Edmonton CMA)• AlargerpercentageoftheunitssoldthisJanuary

werepricedunder$400,000.

• Theproportionofunitssoldlastyearinpricerangesabove$500,000decreasednotablyfromallof2015.

New Single-Family Housing

First Quarter Market Report for 2017

TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.

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Edmonton New House Price Index (NHPI)• StatisticsCanada’sNewHousePriceIndex

(NHPI)forEdmontondecreasedby0.6%year-over-yearinJanuary.

• Theaveragevalueforthisindexofcontractorsellingpricesin2016was0.2%lowerthantheprecedingyear.

Multi-family Housing Starts (Edmonton CMA)• Multi-familystartsinEdmontonregionincreased

byalmost150%year-over-yearinFebruaryto758unitsinFebruary.

• Sizableyear-over-yeargainsinsemi-detachedandapartmentactivitycompensatedforlowertownhousestartsinFebruary.

Multi-family Housing Starts (YTD) (Edmonton CMA)• Multi-familystartstotheendofFebruaryhave

increasedacrosstheEdmontonregionby48.2%to962units.

• In2016,multipledwellingstartsfellby50%from2015’srecord-settingpaceto5,701units.

New Single-Family Housing

New Multi-Family Housing

First Quarter Market Report for 2017

TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.

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